C d rom has just given an insurance company 30000 in return, Finance Basics

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C d rom has just given an insurance company 30000 in return

Question: C. D. Rom has just given an insurance company $30,000. In return, he will receive an annuity of $3,200 for 20 years. At what rate of return must the insurance company invest this $30,000 in order to make the annual payments? Interpolate. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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